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Elon is preparing unfortunately in a Twitter deal! Sells $6.9 billion of Tesla stock

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Musk sold nearly $6.9 billion in shares in Tesla in his court battle with Twitter

Tesla and SpaceX CEO Elon Musk has sold nearly $6.9 billion in shares in Tesla as the billionaire puts his finances in order ahead of his court battle with Twitter. Musk has sold more Tesla shares as he prepares for his court battle with social media company Twitter. Musk and Twitter agreed in April that the Tesla CEO would acquire the company for $44 billion. Musk wanted to withdraw from the deal because the social media company was a “material breach” of their agreement. He revealed in a series of regulatory filings that he had shed about $6.9 billion of his Tesla Inc stock.

Elon Musk sold nearly $6.9 billion in shares in Tesla:

Musk retains all rights arising therefrom, including his right not to complete the transaction and his right to terminate the merger agreement. Twitter Inc. has reiterated. It will hold Elon Musk responsible for the terms of its proposed $44 billion takeover offer after the billionaire once again threatened to walk out of the deal over the issue of robots. Musk claimed that Twitter withheld critical information and misled his team about the size of its user base.

Musk alleges that Twitter committed fraud, a breach of contract, and a violation of the Texas Securities Act, where Musk lives. Musk stated on Twitter that in the event that Twitter will hopefully force this deal to close, which is unlikely, *and some equity partners have not implemented, it is important to avoid an emergency sale of Tesla stock.

Musk offered to buy Twitter earlier this year, then tried to back out of the deal claiming that the social platform was riddled with more “spammers” and fake accounts than Twitter exposed. Musk’s lawyers said he tried for about two months to obtain information about fake accounts on the platform, which Twitter allegedly never provided.

Elon’s post is unfortunately preparing for a Twitter deal! Sells $6.9 billion Tesla shares debuted.

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